Finding an accountant

user302243

How do people recommend finding an accountant after starting a ltd company? I'm looking for advise around what I can and can't put through the company, what bookkeeping I should be doing as well as filing the returns and registering for VAT etc.

Should I go for a larger site aimed at startups e.g. http://accountantonline.ie/ or a local accountant or what tends to be best?

Dubhurler4

I find recommendations are best. Have you any friends who are sole traders or in business who might be able to recommend someone they use?

relevanc

I agree, recommendations are best.

Try and find an accountant who you’ll click with and who is familiar/experienced with your sector for example online commerce store etc.

It may be beneficial to reach out to similar businesses and ask their recommendations

user302243

Makes sense.

I'll try find some recommendations. Otherwise, (if allowed on boards) if anyone has recommendations feel free to PM me them.

relevanc

user302243 wrote: »

Makes sense.

I'll try find some recommendations. Otherwise, (if allowed on boards) if anyone has recommendations feel free to PM me them.

It maybe helpful to readers if you state the sector/type of business/size.
Accountants are inclined to niche in certain areas and/or types of businesses.
That way any recommendations you receive will be more tailored to your needs and hopefully be of greater value to you.

user302243

Its an online subscription business of a physical product. No real employees at the moment and turning over maybe 70k/year.

JMR

I would second what above posters have recommended but add to that, the importance of your accountant being somewhat local.

I previously used an accountant that was situated approx 300km from me and never met him in over 5 years!

I now find that using the services of an accountant in Dublin, we meet regularly and it's a much better setup.
They don't have to be on the same street as you, just near enough that face to face meetings are possible (notwithstanding Covid-19!!)

Trojan

For me, specialising and being good are far more important than location.

I've had the same accountant for 14 years. He's 200km away and we normally meet once every two or three years. We post a big envelope back and forth for the annual returns, and occasionally I'll drive up to meet him. Everything else is by phone & email.

Get a good accountant. Don't go cheap. Take a free consultation with a few options and don't say yes straight away. Ask for references, and check them.

markmoto

user302243 wrote: »

Its an online subscription business of a physical product. No real employees at the moment and turning over maybe 70k/year.

accountants not cheap. for 70k a year?...
I would suggest if you have spare time do it your self.


Especially day to day bookkeeping, tons of software available some totally free.

Mrs OBumble

markmoto wrote: »

accountants not cheap. for 70k a year?...
I would suggest if you have spare time do it your self.


Especially day to day bookkeeping, tons of software available some totally free.

With the VAT threshold based on revenue, not profit, I would definitely have an accountant for a 70k turnover.

Do the bookkeeping stuff yourself, for sure. But you need ongoing professional tax advice with that much cash involved.

ulster

user302243 wrote: »

How do people recommend finding an accountant after starting a ltd company? I'm looking for advise around what I can and can't put through the company, what bookkeeping I should be doing as well as filing the returns and registering for VAT etc.

Should I go for a larger site aimed at startups e.g. http://accountantonline.ie/ or a local accountant or what tends to be best?

I also set up a LTD. I didn't go with a larger site, I went with someone local, after googling my type of work (IT contractor) I don't think those larger sites give the best advice; that particular website you mentioned has some suspect advice in parts too.

pgj2015

In my first year in business, I used an accountant my relative recommended. He charged me a fortune for very little work. I asked him what I would be paying for the second year, he was going to charge me even more. I rang around myself and found a new one for one third of the price. I find the new one great as well, really knows his stuff. I am with him now a few years. His prices have actually come down.

Don't always trust what others tell you about what accountants to use.

tacofries

I don't recommend using peoples recommendations. Instead do up a list of things you want from an accountant then organise a meeting with a number of them that seem to tick your boxes according to their website and reviews. Perhaps ask them for 2 references also to be safe.

By and large, for a lot of things in business I found recommendations to be sh*te. You still need to do full due diligence even if they have been recommended to you and sometimes because someone you know used them you can become a bit lax.

pgj2015

tacofries wrote: »

I don't recommend using peoples recommendations. Instead do up a list of things you want from an accountant then organise a meeting with a number of them that seem to tick your boxes according to their website and reviews. Perhaps ask them for 2 references also to be safe.

By and large, for a lot of things in business I found recommendations to be sh*te. You still need to do full due diligence even if they have been recommended to you and sometimes because someone you know used them you can become a bit lax.

I agree. I was once recommended a bookkeeper by a company I thought would now their stuff. The bookkeeper didnt know something really basic which if I hadnt known myself would have cost me about 10,000 euro a year. I couldnt believe it, they had all these degrees on the wall of their office but didnt know something so basic.

Also I have seen cowboy builders loads of times, builders leaving houses in a dangerous state, roofs ready to cave in on the people who live there, "oh my friend recommended him".